Property News · July 10, 2021

New World’s compensation to Pavilia flat buyers may slash valuations and cut the bank loans available to mortgage borrowers


New World Development’s decision this week to compensate owners of the flats it plans to demolish at The Pavilia Farm apartment complex could slash the valuation of the property and reduce the amount of bank loans available to mortgage borrowers.Slightly more than half of the customers who bought the 852 apartments at The Pavilia Farm III chose a so-called cash payment method, in which the purchase is fully settled within 180 days of the contract. The remaining 417 buyers, making up 48.9 per…

Source : South China Morning Post
Read more…New World’s compensation to Pavilia flat buyers may slash valuations and cut the bank loans available to mortgage borrowers

You may also like...